CHAPTER X.
The Private Banks.
Perhaps some readers of the last part of the last chapter have been inclined to say that I must be a latent enemy to Joint Stock Banking.

At any rate, I have pointed out what I think grave defects in it.

But I fear that a reader of this chapter may, on like grounds, suppose that I am an enemy to Private Banking.

And I can only hope that the two impressions may counteract one another, and may show that I do not intend to be unfair.
I can imagine nothing better in theory or more successful in practice than private banks as they were in the beginning.

A man of known wealth, known integrity, and known ability is largely entrusted with the money of his neighbours.